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20120923
20120923
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as the 20th chief of staff of the united states air force. faced with decisions and a mission to reenergize the service that's been at war for more than 20 years and shrinking for the past decade as the equipment has aged. the top priority is a resolve a bitter dispute with congress over proposed cuts to the air national guard. lawmakers are blocking $9 billion this cuts from the services proposed budget. general welsh joins us now as the air force association's air and space conference here at the gay lord convention center in maryland, just south of washington, d.c.. thanks for taking time our your schedule to be with us. >> thank you vago. >> and there's very little that you can do to prepare for it in many respects aside from that it's 9.4% pretty much across everything. but there are things that can be cut and there are things that can't be cut. what are the things -- or areas that you're most concerned about in a sequestration environment? >> vago, the biggest concern i have is that the trade space will eventually come down to modernization or readiness. terrible trade space for the m
culture here in the united states. i think energy will do well. new energy. natural gas, fracking, all that good stuff. health care. interestingly, we think under an obama administration, health care stocks would actually do better than under a romney administration. that's contrary to most of our competition. the reason is, if romney should win, 80% of health care is product and pharmaceuticals and drugs and really expensive stuff. if you have fewer americans insured under a romney administration, that means less americans will be paying out for those products, 80% of which represent the health care. that's one thing you have to be careful of. >> we keep hearing image. obviously, the economy, jobs, the whole picture. what do you feel? it >> will be tough for either candidate. what we need, both fiscally and economically is compromise. i think we need to tell our leaders that we need compromise. we need to accept the fact that we need to cut back on our debt, cut our spending in this country. you and i have cut our spending. we're living within our means now. why can't our government d
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